Forum Energy Technologies said June 8 that Wuxi Haiying-Cal Tec Marine Technology Co. Ltd. will represent Forum for the sale of the company’s extensive range of remotely operated vehicles in China, including its recently launched XLe Spirit electric ROV.
The vehicle, which recently completed a successful sea trial in Norway, is the first of a new generation of electric observation class ROVs. It is the smallest in the new range, and powerful enough to perform subsea maintenance and repair work.
“We continue to see strong demand for our products in China and the wider Asian market, and recognized the need for a local partner to support our long-term growth strategy,” Kevin Taylor, vice president of subsea vehicles at Forum Energy Technologies, said.
“It’s important that we work with the best and most well-respected partners in-country and Wuxi Haiying-Cal Tec Marine Technology Co. Ltd. provides us with another strong channel to complement our existing framework across the academic, survey and energy markets.
“This agreement ensures that our clients in China receive the same streamlined and consistent support they are accustomed to around the globe. We look forward to engaging with new and existing companies through this partnership to grow our foothold in China and deliver our world-class range of reliable ROVs.”
Recommended Reading
Midstream M&A Adjusts After E&Ps’ Rampant Permian Consolidation
2024-10-18 - Scott Brown, CEO of the Midland Basin’s Canes Midstream, said he believes the Permian Basin still has plenty of runway for growth and development.
Post Oak-backed Quantent Closes Haynesville Deal in North Louisiana
2024-09-09 - Quantent Energy Partners’ initial Haynesville Shale acquisition comes as Post Oak Energy Capital closes an equity commitment for the E&P.
Analyst: Is Jerry Jones Making a Run to Take Comstock Private?
2024-09-20 - After buying more than 13.4 million Comstock shares in August, analysts wonder if Dallas Cowboys owner Jerry Jones might split the tackles and run downhill toward a go-private buyout of the Haynesville Shale gas producer.
Aethon, Murphy Refinance Debt as Fed Slashes Interest Rates
2024-09-20 - The E&Ps expect to issue new notes toward redeeming a combined $1.6 billion of existing debt, while the debt-pricing guide—the Fed funds rate—was cut on Sept. 18 from 5.5% to 5%.
Dividends Declared Sept.16 through Sept. 26
2024-09-27 - Here is a compilation of dividends declared from select upstream, midstream and service and supply companies.